Plus   Neg

Stock Alert: Shares Of NextEra Energy Inc. (NEE) Hit 52-Week High

Shares of wind and solar energy producer NextEra Energy Inc. (NEE) recorded a new 52-week high of $264.08 on Friday, Jan. 24, 2020, and closed Friday's trading session at $263.72, up $3.64 or 1.40%. Trading volume rose to 2.57 million versus an average volume of 1.89 million.

On Jan. 24, the company reported fourth-quarter GAAP net income of $975 million or $1.99 per share, compared to $422 million, or $0.88 per share, last year. On an adjusted basis, net income totaled $706 million, or $1.44 per share, versus $718 million, or $1.49 per share, a year ago. Operating revenues rose 4.6% to $4.59 billion from $4.39 billion in the prior year period. Wall Street analysts expected earnings of $1.48 per share for the quarter.

NextEra continues to project adjusted earnings per share compound annual growth rate to be in a range of 6% - 8% through 2021, off the 2018 adjusted earnings per share of $7.70, plus accretion of $0.15 and $0.20 in 2020 and 2021, respectively, from the Florida acquisitions.

The company continues to expect fiscal 2020 adjusted earnings per share to be in the range of $8.70 - $9.20, and expects fiscal 2022 to grow 6% - 8%, off 2021 adjusted earnings per share, to be in a range of $10.00 - $10.75 per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT